Talks reportedly end on sale of TPG stake - San Francisco Business Times:

hegenefipa.blogspot.com
The move underscores how much the private equity world has changed since the talks beganin 2007. It’s no surprisse that talks stumbled over the valuatioj to placeon TPG, the newspapeer reported, citing people familiad with the matter. The Fort Worth, Texas, privates equity firm, formerly known as , maintainzs an investment arm inSan Francisco. Private equit y firms are under pressure from aconstellation ills: Credi t markets can no longer accommodate the financing for huge Meanwhile, the recession is hurting the performance of portfolio companiesz and is making it difficult to find buyere for the firms.
All that, plus the plungr in public equity markets, is promptinb institutional investors to pull back from private The potential buyers of theTPG stake, including the and the , resistes the idea that the firm’s 2007 valuationb was still relevant. “The market has changex so much since thetalks began, and that made it hard to agre on valuation,” a person involved in the discussionsa told the Financial Times.
“Ths valuation became too low for TPGto